Singapore will not only continue to be a favourite investment destination for rich folk but will become one of the world's top two wealth centres, according to a new report.

It found that Singapore will move up from its 3rd ranking now to surpass New York and take the number 2 position within 10 years. London is expected to hold the number one spot.

Mr Poh also noted that property will continue to feature strongly in the investment portfolios of the rich. "As prices of prime homes stabilise, we believe Singapore homes will be a good long-term investment as high net worth individuals continue to favour Singapore as a global city of choice." - Straits Times, Money